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“How Mompha operates unlicensed Bureau De Change” – Witness

by Alli Mustapha

Yesterday, March 18, The trial of Ismaila Mustapha (aka Mompha) continued before Justice A. Mohammed Liman of a Federal High Court sitting in Ikoyi, Lagos, as a prosecution witness told the court that Mompha did not remit the tax to the Federal Government for seven months while his company was already in existence.

Mompha who stands the trial alongside his company, Ismalob Global Investments Limited defends himself against amended 22-count charge bordering on cyber fraud and money laundering to the tune of N33 billion brought against him by the Economic and Financial Crimes Commission (EFCC)

Mompha who is fingered as a major figure in an organised transnational cyber fraud network, allegedly used his company, Ismalob Investment Limited to launder the funds, part of which he used in acquiring properties in Dubai.

At the resumed sitting, the prosecution called four witnesses, three of which are Bureau De Change Operators, BDC and an investigator with the EFCC.

Led in evidence by Rotimi Oyedepo, prosecution counsel, Kaina Garba, an investigator with the EFCC narrated how Mompha ran an unlicensed BDC and lied about the date operations commenced in his company leading to his evasion of tax for seven months.

Justice Liman adjourned further hearing in the matter to today.



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